Arizona § 40-806 - Call for installments on stock subscriptions; notice; action to collect from defaulting subscriber
Full text of Arizona Arizona Revised Statutes § 40-806 — Call for installments on stock subscriptions; notice; action to collect from defaulting subscriber, with citation guidance and answers to common questions.
§ 40-806. Call for installments on stock subscriptions; notice; action to collect from defaulting subscriber
The directors may make calls on stock subscriptions in installments of not more than ten per cent per month, unless otherwise stipulated in the subscription. Notice of each call shall be given the stockholders by mail, and shall be published once a week, for at least four weeks, in a newspaper published at the principal place of business of the corporation. If the subscriber defaults, action may be brought for collection of the subscription called, or so much of the stock as will be necessary to pay the call and the costs of sale may be sold at public auction in the manner provided in the by-laws.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 40-806
What does Arizona Revised Statutes § 40-806 cover?
Section 40-806 ("Call for installments on stock subscriptions; notice; action to collect from defaulting subscriber") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 40-806?
A common citation format is "Arizona Revised Statutes § 40-806" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 40-806 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.